A mature Matthew Wade century has kept Tasmania's hopes alive in their JLT Sheffield Shield match against Victoria in Hobart.

Victoria need 276 to win after the former Test wicketkeeper's 137 pushed the Tigers' second innings to 476 late on day three.

Playing against his former side, Wade shared a 91-run partnership with Jackson Bird, who hit a near run-a-ball 50, his highest first-class score.

Wade was watchful early but farmed the strike with the tail, launching two massive sixes at Blunstone Arena.

Victoria successfully navigated six overs to be 0-12 at stumps.

Wade's ton followed four half centuries across three previous Shield matches this season.

Tasmania have clawed their way back in the match after being skittled for 81 on day one and conceding a first-innings deficit of 201.

Test wicketkeeper Tim Paine chipped in with 40, after Tasmania started Monday at 2-196.

Jordan Silk (90) fell in the first session to a leading edge off Peter Siddle (4-100) as the Tigers lost 3-3.

But the in-form Wade got them back on track after Alex Doolan (94) had wiped off a big chunk of Victoria's first-innings lead on day two.

The visitors posted 282, headed by a composed 63 from Cameron White.